Palm has just announced its purchase of rival PDA company, Handspring, in a deal said to be worth just under $US169 million. "The companies said in statement that Palm's board has also decided to spin off PalmSource, which develops and licences Palm's operating system." . Furthermore, it has been announced that Handspring shareholders will get 0.09 Palm shares for each Handspring share, and that Handspring shareholders will own 32.3 per cent of the new company, while Palm's shareholders will hold 67.8 per cent.

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